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RhythmOne on track as volumes of ads pick up

Mobile as a proportion of total revenues rose to 75.4%

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Mobile advertising specialist RhythmOne PLC (LON:RTHM)  saw a sharp rise in volumes and prices per impression in its latest quarter.

Ad requests processed through its platform rose by 26% to 9.59bn, while the price of impressions rose to US$4.32 from US$3.36.

READ: RhythmOne shares soar as it sees full-year underlying earnings surge 900%

Mobile as a proportion of total revenues rose to 75.4%.

“Revenue and adjusted EBITDA performance are in line with current market expectations," said Mark Bonney, chief executive.

Digital advertising is undergoing a major shift due to the advent of connected TV (internet, OTT) viewing and automated buying and placement of digital ads with artificial intelligence.

The focus throughout the current year financial year will remain mobile, video and programmatic trading, added Bonney.

Shares rose 6% to 185p.

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AIM:RTHM
Market: AIM
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